>>150307688 (OP)
It's a PG rated movie disguising itself as PG-13 and mostly targeting 12 year olds. Somehow adults looked past the "for kids" stigma because it's foreign-ish. It's an overlap of demographics of young kids who hadn't learned to discern the flaws of the Pop-music industry and young adults who were introduced to a peak of K-pop interest five years ago (cough cough).
It rides on the coattails of Captain Underpants and Spider-verse with some snappy animation.
It somehow cracked the code on songs that are catchy in-universe that are still catchy out-of-universe/IRL—an extreme rarity. Usually songs that are treated as catchy in universe are either kind of annoying/lame or just a music loop ("I am soundwave" comes to mind). The songs stand out a bit as well because they use singing voice doubles instead of crappy tuned voices like Disney usually does now. Sony Pictures also has good collaboration with Sony Records and cut their teeth with other soundtracks like Spider-verse
It has in-universe viral dances that activated the neurons of out-of-universe viral dance addicts/attention whores.
It has a very up front title that catches attention, like "Snakes on a Plane."
Hard to really pin-point what exactly made it an event movie as opposed to say Wish Dragon, or Bad Guys 2. It's sort of the "right place, right time" lightning in a bottle success that can never be replicated.